NEW DELHI—India is planning to dump a mountain of sugar on the world, and traders say the controversial move could knock the wind out of a global sugar market that is already grappling with a glut. Five years of bumper crops have led to a giant sugar stockpile in India.

To help the sugar sector clear its cane dues, the food ministry is examining a proposal to raise the import duty from 15 to 40 per cent. It might also consider fixing the export incentive on raw sugar for two years against the current practice of revising it every two months.

Even as the Department of Food and Public Distribution works to resolve the contentious issue of sugarcane pricing for farmers, there is uncertainty regarding the issue of export subsidy on raw sugar, a major initiative to reduce mounting arrears.

Last year, the UP government had retained the state advised price for cane at Rs 280/qtl. The mills had been allowed to pay Rs 260/qtl upfront and the remaining Rs 20/qtl later After the Allahabad High Court rap over massive arrears on payments to farmers for sugarcane sales of about Rs 8,500 crore, the Uttar Pradesh government has turned the heat on private sugar mills. The government has started the process of registering First Information Reports (FIR) and issuing Recovery Certificates (RCs) against defaulting mills.

Sugar mills in Maharashtra have completed contracts for export of raw sugar to the tune of 61 lakh quintals this season. They had signed contracts for 66 lakh tonne of raw sugar, senior officials from Maharashtra State Cooperative Factories Federation (MSCFF) said.

Even as the Department of Food and Public Distribution works to resolve the contentious issue of sugarcane pricing for farmers, there is uncertainty regarding the issue of export subsidy on raw sugar, a major initiative to reduce mounting arrears.

LUCKNOW: The sugar in your cup of tea is likely to get dearer with the Narendra Modi government at Centre mulling to go after ethanol production in a big way. The decision could lead to conversion of excess raw sugar flooding the UP market into ethanol, which is spotted as a future fuel blend for petrol. UP has raw sugar in excess to the tune of 100 lakh tonne, which, in turn, which has kept a check on rise in prices.

Chennai, June 2:
Sugar industry in Tamil Nadu continues to see a dip in production due to dry weather and low recovery.
Going by sugarcane planting data, the dip is likely to sustain in the coming 2014-15 (October-September) season, with sugar production likely to hit a low of about one-third of the installed production capacity.

India is likely to export more than 2 million tonnes of sugar in 2014/15 as the top consumer is set to produce a surplus of the sweetener for the fifth straight year despite chances of reduced rainfall, a commodities executive said on Monday. The continued exports from the world's second biggest producer would put pressure on global prices that are already depressed due to a global surplus.

New Delhi, March 18:
Sugar prices which had dropped to five-year-lows in early-February have reversed their trends in the last few weeks.
Prices at Kolhapur and Muzaffarnagar, the country’s two major terminal markets, have increased by 12 per cent in the last six weeks. They are seen to trade firm in the days ahead as the current crushing season heads for closure in about a month’s time.

NEW DELHI: Snowfall in the middle of March; heavy showers in the drying-up phase of the monsoon; catastrophic floods before the rainy season; searing heat in parts of south India — extreme climate events seem to be the norm in the past year, deepening concerns about climate change.

NEW DELHI: As the sugar production in the country lags behind the past year's production by 11%, cane arrear amount for the millers reached a whooping Rs 14,000 crore despite subsidy interventions by the government.

Apart from lower sugar production in UP, lower rainfall in Tamil Nadu is likely to impact sugar production and the output is expected to decline by 15 percent, ICRA said. Further, there has been a delay in the commencement of crushing across the country due to a delay in the fixing of the cane prices.

DANA POINT, CALIF. – Although the global sugar supply remains in excess, the surplus is shrinking, while the U.S. supply picture appears less clear, according to speakers at the International Sweetener Colloquium in Dana Point on Feb. 24.

India’s decision announced Wednesday (Feb. 12) to allocate 3,333 rupees (US$53.52) per ton as a subsidy for the production of raw sugar as of March 31, besides going against commitments that the country has made to the World Trade Organization (WTO), is the most harmful form of support to the industry. That’s the assessment of Eduardo Leão de Sousa, Executive Director of the Brazilian Sugarcane Industry Association (UNICA).

PUNE: The 2013-14 season sugar production of India upto February 15, 2014 is 143.7 lakh tonnes. It was 165.88 lakh tonnesduring last year, same time. The gap in sugar production over last year, during same corresponding period, has narrowed down to 13% on February 15 , from about 16% a fortnight back i.e. upto January 31, said a release from industry body Indian Sugar Mills Association ( ISMA).

Raw sugar fell in New York as an export subsidy approved by India, the world’s second-biggest producer, may push more sweetener onto the world market and damp imports by the nation’s refineries. Cocoa retreated.

NEW DELHI: Agriculture minister Sharad Pawar prevailed upon the food ministry to push subsidy for export of sugar by private manufacturers at a price closer to what he had originally proposed. The Cabinet committee on economic affairs (CCEA) on Wednesday approved Rs 3,333 as subsidy for exporting every tonne of raw sugar.

Inventories are piling up for the country's sugar industry as it tries to save itself from selling the commodity at a loss, while pinning hopes on the government to soon provide incentives, a company official has said.

The two fiscal bailout packages doled out by the government to the beleaguered sugar sector - interest-free loans worth Rs 6,600 crore and cash subsidy on raw sugar exports - may at best provide some temporary relief to the cash-strapped sugar mills.

Mumbai, January 29:
Sugar prices on the Vashi wholesale spot market declined by ₹5-10 a quintal on Wednesday. The commodity extended its loss in the domestic futures market by ₹15 on lower physical demand. Continuous selling by mills in the absence of upcountry demand kept morale weak with routine need-based activities, said sources.

Sugar mills’ financial health is unlikely to see a significant change anytime soon due to relentless price decline in the sweetener and uncertainty in allied products despite short term relief measures introduced by the government.

Sugar production in the country is in full swing. Till January 15, 2014, India produced 85.5 lakh tonne sugar with 484 mills under crushing operations. The gap between the sugar production during the corresponding period last year, which was lagging behind by 29 per cent a fortnight back, has been narrowed down to 21 per cent now. Last year, 505 mills produced 108 lakh tonne sugar till January 15, 2013.

NEW DELHI: Supply of sugar in major markets across the country has weakened, with the mills
waiting for the Centres relief package to come in. "Despite the Cabinets decision on the
bailout package, the industry is still waiting to get a clarity on the same. Sugar supply is
abysmally low in the markets as the mills are playing safe," said a UP sugar industry official.

India, the world's second biggest sugar producer, started the 2013-14 marketing year that began on October 1 with a carry-forward stocks of 8.8 million tonnes and is likely to produce 25 million tonnes this year, compared with its annual sugar consumption of around 23 million tonnes.

Nov 28 (Reuters) - Indian sugar futures fell on Thursday on ample supplies due to surplus production in three straight years, though a delay in cane crushing and hopes the government would take steps to arrest falling prices limited the downside.

BANGALORE: After weeks of deliberations and amidst farmers protests, the state government on Sunday fixed Rs 2,500 as minimum support price (MSP) for a tonne of sugarcane.
The MSP was fixed at the meeting held by the Karnataka Sugarcane Control Board comprising ministers, officials and farmer leaders. However, the farmers' association was not happy with the price and said they would meet to discuss next plan of action shortly.

NEW DELHI: At the end of a year of getting decontrolled from the government's levy mechanism, India's sugar industry closed its production at 25.1 million tonne, which is slightly less than last year and with a lower recovery.

PUNE: A growing number of port-based refineries coming up in the Indian ocean region are all set to change the world sugar trade in favour of raw sugar. India is likely to emerge as the key player in the changed regime.

AURANGABAD: The Sugar supplier for the month of October in Marathwada has claimed the stock is inadequate and not enough of the commodity can be supplied under the public distribution system this festive season.

New Delhi, Oct 6:
Sugar mills have begun the 2013-14 marketing year, that started this month, with an opening stock of 8.5 million tonnes and this huge inventory could spell trouble for the sector, according to industry body ISMA.

Six months after the government partially decontrolled the sugar sector, millers have alleged they are still being forced to carry the burden of supplying sugar at a subsidised rate to the government for the Public Distribution Supply (PDS), in contravention of the spirit of the Cabinet decision.

LUCKNOW: Festive season is round the corner and sugar mills have dropped broad hints of inability to operate this season because of high cane prices, in what may lead to a gap between the demand and supply, hence escalated prices of sugar this festive season.

Agricultural growth, according to official estimates, is pegged at 4.8 per cent for the current fiscal as against 1.9 per cent in 2012-13, on expectation of a record food grains, pulses and cotton production buoyed by a benevolent monsoon.

New Delhi, Sept. 16:
The Government should look at creating a sugar buffer stock of two million tonnes to balance the market, said Ashok Gulati, Chairman, Commission for Agricultural Costs and Prices (CACP).

Excess rainfall, mainly in sugarcane growing region of South Gujarat, seems to have hampered the prospects of cane crop in the state. Farmers and sugar millers have expressed concern over a possible fall in the sugarcane production this year.

NEW DELHI: Sugar production in India is estimated to touch 25 million tonne in the sugar season 2013-14 starting from October, slightly higher than the current year's 24.5 million tonne, the Indian Sugar Mills Association (ISMA) has estimated.

Mumbai, Sept. 11:
Sugar prices on the Vashi wholesale market dropped by Rs 5-10 a quintal at the lower end while at the upper level it was unchanged. Naka rates were mixed with S-grade gaining Rs 10 while M-grade lost Rs 20. Mill tender rates were down by Rs 10 as mills continued selling old stocks before new crushing season starts. With routine volume sentiment remained steady, said sources.

SURAT: The sugar co-operative factories of south Gujarat on Tuesday decided to hike the procurement price of sugarcane by 15 to 20 per cent. There are at least nine operative factories in the region and each one's sugar procurement price for the farmers varies

The state government has taken a policy decision to disallow sale of loss-making sugar factories run by cooperative societies. The decision comes in wake of growing unrest in rural Maharashtra, as sugar cooperatives are increasingly being privatised without adequate compensation to farmers, who have given their land and hold stakes in the units.

(Reuters) - Indian sugar futures edged lower on Tuesday on ample supplies due to surplus production for three straight years, though expectations that festivals would lift local demand and a weak rupee might boost overseas sales, limited the downside.

Crushing units in Uttar Pradesh (UP) are fast losing markets to mills in Maharashtra and Karnataka. Delhi, the largest consumption centre for UP sugar mills, is partly being controlled by Maharashtra mills.

For the 2014-15 crop marketing season, the Commission for Agricultural Costs and Prices (CACP) has recommended the fair and remunerative price (FRP) of sugarcane be raised 4.76 per cent to Rs 220 a quintal.

Aug 27 (Reuters) - Indian sugar futures dropped on Tuesday to their lowest level in three weeks on weak demand and ample supplies due to surplus production in three straight years, although hopes that a weak rupee will revive exports limited the downside.

LUCKNOW: In another blow to the financially ailing sugar industry of Uttar Pradesh, the excise department has raised objection over the cane department decision to waive off the quota of molasses to be allocated to country liquor manufacturers.

LUCKNOW: Even as sugar mills seek government support for clearing dues towards cane farmers, experts point out a sharp decline in the cultivation of early variety of sugarcane that contributes to more sugar recovery.

LUCKNOW: In another blow to the financially ailing sugar industry of Uttar Pradesh, the excise department has raised objection over the cane department decision to waive off the quota of molasses to be allocated to country liquor manufacturers. The waiver, allowed by the state cabinet, would have fetched additional revenue to the sugar industries, which are erring on payment of thousands of crores due towards cane growers.

LUCKNOW: Already facing rough weather, sugar industries defaulting payment due towards sugarcane farmers in Uttar Pradesh are in for trouble with the state government which is considering slapping registered challans on them. The move comes in the wake of an observation of high court which last month asked the industries to pay the dues to farmers within six weeks. The court is scheduled to hear the case on Friday.

NEW DELHI: Sugar output in the next marketing year 2013-14 may exceed 24.5 million tonnes level achieved this year on hopes of higher yields due to good rains, Agriculture Minister Sharad Pawar said today.

Sugar is sweet, but issues surrounding its production remain bitter. Government officials in the district are struggling to check the smuggling of sugarcane from agricultural fields, meant exclusively for cooperative sugar mills, to private mills.

Indian sugar futures were steady on Wednesday as the government decision to provide additional quota outweighed good export demand and concerns of dry weather in key cane-growing areas could trim next year's production. The Indian government has converted 290,000 tonnes of unsold levy sugar into non-levy and asked mills to sell it before end-August.

Mumbai, Aug 12:
Sugar prices ruled steady on Monday on routine demand and ample supply.
Freight rates which improved slightly the previous week on shortage of trucks due to Ramzan Id again came to normal level led to ample arrivals in the market.

Sugar millers in India, the world’s second-biggest producer of the sweetener, may seek to export product because of a record low for the Indian rupee and a fourth year of domestic surpluses, Olam International Ltd. said.

KOLKATA: For SY 2012-13, the domestic sugar production is marginally higher than domestic sugar consumption (estimated at around 23-23.5 million MT) which together with imports of 0.5 million tonnes has resulted in a modest surplus, although sugar stocks still remain satisfactory at 6.5- 7.0 million MT or 3 months domestic consumption.

Indian sugar futures eased on Thursday on ample supplies due to surplus production for three straight years amid weak demand, though expectations of a rise in demand due to festivals limited the downside.

Kolkata, July 31:
Vivek Saraogi, Managing Director of Balrampur Chini Mills Ltd, on Wednesday said the country’s sugar production during the 2013-14 season is expected to decline due to lower availability of cane.

KANPUR: The National Sugar Institute (NSI), in association with Sugar Technologists' Association of India (STAI), New Delhi, organised a day-long all-India seminar on the topic, 'Mechanisation of Sugarcane Cultivation in India' at the NSI campus. Prof Ashok Kumar, vice chancellor, CSJM University inaugurated the seminar.

(Reuters) - Indian sugar futures were treading water on Thursday as a slight improvement in retail demand offset a forecast for surplus production for the fourth straight year on the back of ample monsoon rains in cane growing states.

(Reuters) - Indian sugar futures edged lower on Wednesday, hurt by sluggish demand and a forecast for surplus production for the fourth straight year on the back of ample monsoon rains in cane growing states.

NEW DELHI: A weak rupee and Ramzan demand have boosted sugar exports at a time when the freeing up of state controls have led to a rise in supplies and a fall in prices. Mills have committed around 1.5 lakh tonne of sugar for export to neighbouring countries. Thanks to a good demand from West Asian countries due to the ongoing month of Ramzan, Indian traders are offering sugar in the international market in the range of $500 per tonne. Last month, around 69,000 tonne of sugar was exported by India.

PUNE: Millers are blaming Shree Renuka Sugars for flooding the market with cheap sugar made by refining imported raw sugar, and said they need a 40% import duty to withstand the glut created by the company. But Narendra Murkumbi, who heads Shree Renuka Sugar, said the culprit is high cane prices.

NEW DELHI: The government's plan to raise sugar import duty from 10% to 15% may not enough to protect local industry from being swamped by imports as high cost of cane and low international prices remain a concern.

NEW DELHI: The government plans to increase import duty on sugar to 15 per cent from the current 10 per per cent in order to curb shipments and clear sugarcane arrears to farmers estimated at about Rs 9,000 crore.

Sugar prices increase by Rs5- Rs7 for fine variety while drop by Rs3-Rs5 for fair quality at Vashi market on Tuesday. Naka rates were mixed but under current was firm tracking firm sentiment at mill level.

Indian sugar futures fell on Friday to their lowest in nearly six weeks on sluggish demand from bulk buyers due to the early arrival of the monsoon and abundant supplies. An expected drop in India's sugar production in the next crop year starting from October 1 due to a drought in key producing areas limited the downside. The key July contract on the National Commodity and Derivatives Exchange was down 0.93 percent at 2,992 rupees ($50.3) per 100 kg at 0910 GMT. It hit a low of 2,979 rupees earlier in the day, the lowest since May 20.

Punjab's state cooperative mills crushed 1.49 mln tonnes of sugarcane into 129,300 tonnes of sugar in 2012/13, up fractionally from 1.4143 mln tonnes of cane processed into 128,000 tonnes of sugar in 2011/12

The compromise reached between the EU Council, Parliament and Commission on the bloc's Common Agriculture Policy for 2014-2020 includes the abolition of EU sugar production quotas at the end of the 2016/17 (Oct/Sep) sugar marketing year on September 30, 2017.

CHANDIGARH: On the personal initiative of the Punjab Chief Minister Parkash Singh Badal, the state government has released Rs. 95.60 crore to the State Cooperative Sugar Mills for further disbursement to cane growers.

Private mills will have to depend on open market as states, demand would go these
In a major transformation in the sugar procurement mechanism, 10 large sugar producing states are planning to enter into memoranda of understanding with local co-operative mills for buying sugar to distribute under the Public Distribution System (PDS). Seven others have already floated tenders and are in various stages of finalisation. Northeastern states have sought transition time from the Centre. States, therefore, are set to commence sugar procurement from the open market soon.

NEW DELHI: Barely 10 days are left for states to procure sugar for selling at ration shops but most of them have not even floated tenders to buy the commodity from the open market. From July 1, the central government will stop procuring sugar from mills for ration shops across the country. States will have to buy it from the open market and sell at a subsidised price at ration shops while the central government will pay the subsidy amount of Rs 18.50 per kg.

New Delhi, June 19:
The Finance Ministry has turned down Agriculture Minister Sharad Pawar’s proposal to hike sugar import duty immediately so as to address mounting cane arrears, saying such a move would lead to inflation.

MYSORE: Sugarcane production in the state this year is going to decline and the produce can be 20 percent less compared to last year. Previous year, 3.20 crore tones of sugarcane was produced, where as this is expected to decline to 2.6 crore tones this year.

VISHWANATH KULKARNI
NEW DELHI, JUNE 16:
Beleaguered sugar mills, whose realisations are under pressure due to high production costs and the bearish trend in prices, are eagerly looking forward to the ethanol orders from the oil marketing companies.

Sugar prices ruled marginally higher on Wednesday on firm freight rates which rose further by ₹5-6 to around ₹110-130 a quintal at producing centres for Mumbai. At the Vashi wholesale market, old stocks sold ₹5-10 lower, while new production ruled ₹5-10 higher. Naka and mill tender rates were unchanged.

(Reuters) India's sugar futures ended up on Wednesday and are expected to open steady in the next session on hopes that the government will finally approve a package of incentives for raw sugar production which could help exports.

Mumbai: Sugar prices are likely to go up by 10 per cent on back of government’s decision allow subsidy of Rs. 3.33 per kg on exports of 4 million tonnes (mt) of raw sugar over the next 2 years, according to CRISIL Research.

Mumbai: Sugar prices improved across the country on Thursday as stockists started building fresh positions after the Government approved a ₹3,333/tonne subsidy to boost raw sugar exports. This move should help cut oversupply of refined sugar, which has piled up with mills after four straight years of surplus production, an observer said.

Indian sugar futures ended higher on Thursday and could extend gains in the next trading session after the government granted the much-awaited subsidy for raw sugar output late on Wednesday. Guar futures are seen opening weaker on Friday on higher production and carry-forward stocks.

Mumbai, January 23:
Sugar prices ruled weak on the Vashi wholesale market. Prices dropped further by Rs 10-20 a quintal for the S-grade on Thursday, taking the total loss to Rs 110-130 this month. Higher selling by producers and need-based local demand, along with peak production, kept spot prices under pressure. The volume was routine.

Indian sugar futures fell on Monday as the new cane crushing season has swelled supplies when mills are saddled with mammoth stocks of the sweetener. At 1032 GMT, the key February contract was down 0.54 percent at 2,743 rupees ($44.62) per 100 kg on the National Commodity and Derivatives Exchange.

Indian sugar futures edged higher on Thursday to their highest level in a week on a drop in production and on expectations of export incentives for mills to produce raw sugar for exports. Indian sugar mills produced 8.55 million tonnes of the sweetener between October 1 and January 15, about 21 percent lower year-on-year, a producers' body said on Thursday, on delays in crushing of cane.

Indian sugar futures edged up on Tuesday due to prospects of higher exports. The key January contract was up 0.04 percent at 2,766 rupees per 100 kg on the National Commodity and Derivatives Exchange. Mills have exported 227,000 tonnes of sugar in the current season which began on October 1, the Indian Sugar Mills Association said in a statement.

October 5, 2013:
The Sugar No 11 contract, the benchmark contract for raw sugar futures, skyrocketed 9.5 per cent to a six-month high to finish the week at 18.48 cents a pound. On October 1, the contract jumped 4.8 per cent with an upward gap, decisively breaching its 200-day moving average. However, on the year-to-date basis, the contract is down 5.3 per cent.

MUMBAI: Sugar futures dropped on Tuesday to their lowest level in three weeks on weak demand and ample supplies due to surplus production in three straight years, although hopes that a weak rupee will revive exports limited the downside.

General Comments: Futures closed slightly lower after trading higher early in the session. Data from Unica in Brazil showed that processors were refining for ethanol more than for sugar, but that there is still plenty of Sugar around. July goes off the Board on Friday. There is still talk that a low is forming or has formed for at least the short term.

Indian sugar futures fell on Wednesday, extending losses from the previous session because of plentiful monsoon rains in cane-growing regions. The key July contract on the National Commodity and Derivatives Exchange was down 1.48 percent at 3,059 rupees ($52.05) per 100 kg at 1048 GMT.

Indian sugar futures edged down on Tuesday due to weak demand from bulk consumers though expectations of a rise in import duty restricted the downside. The key July contract on the National Commodity and Derivatives Exchange was down 0.23 percent at 3,104 rupees ($53.72) per 100 kg at 1119 GMT.

MUMBAI: Indian sugar futures edged higher on Tuesday on a slight improvement in spot demand, though higher carry-forward stocks and a forecast of surplus production for a fourth straight year capped the upside.

London No. 5
Settlement Prices (15/12/2016)

SYMBOL

Last

Chg

Vol

MAR 17

498.20

+12.50

4716

MAY 17

495.40

+12.00

1181

AUG 17

490.00

+12.20

436

OCT 17

480.70

+11.50

294

DEC 17

474.10

+10.00

186

New York No. 11
Settlement Prices (15/12/2016)

Symbol

Last

Chg

Vol

MAR 17

18.56

+0.53

57384

MAY 17

18.32

+0.50

26309

JUL 17

18.03

+0.48

15474

OCT 17

18.00

+0.43

8156

JAN 18

18.10

+0.37

3780

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manner nor we guaranty the statistics, prices, figures shown on
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